Liberty Insurance to give €5m rebate to motor insurance customers

Libery Insurance has announced it will give premium rebates worth a total of €5m to its car insurance customers as part of its response to COVID-19.

The insurer will give motor policy holders back 15% of their premium for two months, subject to a minimum amount of €10, through a cash equivalent voucher.

Alternatively, customers can choose to donate their rebate to a charity aiding frontline workers in the fight against coronavirus.

Liberty Insurance is give customers a 15% rebate for two months. Pic: Shutterstock

‘We recognise that these are exceptional circumstances and now is a challenging time for many of our customers. We also recognise that risks on Irish roads are reduced in light of current restrictions,’ Liberty CEO Tom McIlduff said.

‘To this end, Liberty Insurance has committed to waiving a percentage of our customers’ motor premiums. We are also giving our customers the option of redirecting this saving to one of a number of charities Liberty is working closely with in the fight against Covid-19.

‘In the meantime, we will continue to explore other ways of supporting our customers and colleagues through this challenging time.’

The cost of motor insurance premiums has increased 42% since 2009. Pic: Shutterstock

All Liberty motor insurance customers with an active car, van, bike or taxi policy as of April 1 will be eligible to request the rebate from June 8. Fleet customers are not eligible for the rebate.

Liberty, however, decided against joining the pledge, instead choosing to explore ‘meaningful ways of supporting our customers with a rebate’ separately.

Libery has also introduced greater flexibility on payment terms for motor and home insurance premiums and made contributions to the Alone and Pieta House charities as part of its response to the virus.

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